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Social Security trust fund on track to run out in 2033: analysis
The Hill ^ | 03/31/2023 | ARIS FOLLEY

Posted on 03/31/2023 9:16:19 AM PDT by ChicagoConservative27

Reserves for Social Security’s largest trust fund are on track to run out as soon as 2033, a board of trustees of the program’s accounts said in a report on Friday.

The estimate is one year sooner than previously projected for the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays out Social Security benefits to retirees, in the trustees’ report from last year. If the reserves are depleted, the report projected income for the account would only cover 77 percent of scheduled benefits.

By contrast, the board estimated the program’s smaller Disability Insurance (DI) Trust Fund would not become depleted for at least 75 years.

While both funds are separate, the accounts have usually been considered as a combined fund when discussing the program’s solvency. Lawmakers have also allowed inter-fund borrowing between accounts to temporarily extend solvency in the past.

(Excerpt) Read more at thehill.com ...


TOPICS: Culture/Society; Government; News/Current Events; Politics/Elections
KEYWORDS: 2033; security; social; socialsecurity; trust
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To: ChicagoConservative27

But we never “run” out of money for wars, welfare, etc. I’m gonna be 70 this year. Thankfully I have the means to live without it if it comes down to it.


21 posted on 03/31/2023 9:45:21 AM PDT by PeachyKeen
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To: ChicagoConservative27

I should be 85 that year.


22 posted on 03/31/2023 9:45:26 AM PDT by depressed in 06
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To: VTenigma
Let's see. What if we hadn't dumped trillions into all those Arab countries who still hate us? What about all that money dumped into that scheisse hole Afghanistan, all for naught? What about all the trillions dumped into "po'grums" for the po' folks? What about the wasted trillions on the "Great Society"? Solar panels, renewable, recycling? Etc. etc. etc.

Don't tell me there is no money for grandpa. Sell oil leases, federal lands, cut spending, but don't mess with grandma.

23 posted on 03/31/2023 9:45:57 AM PDT by Governor Dinwiddie (LORD, grant thy people grace to withstand the temptations of the world, the flesh, and the devil.)
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To: ChicagoConservative27

Can I identify as an illegal alien so my checks will never run out?


24 posted on 03/31/2023 9:47:32 AM PDT by HombreSecreto (The life of a repo man is always intense)
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To: ChicagoConservative27

Is the folks in Galveston, Tx....still opted out of SSI?


25 posted on 03/31/2023 9:48:22 AM PDT by Osage Orange
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To: HombreSecreto

Prolly!! Si’ Amigo


26 posted on 03/31/2023 9:49:13 AM PDT by Osage Orange
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To: IYAS9YAS
... Glad I have other things in place and am not reliant on this Ponzi scheme.

That is, and has been for a long time, the wise approach.

27 posted on 03/31/2023 9:52:03 AM PDT by gloryblaze
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To: ChicagoConservative27
Fact checkers (ok, it's just me) have determined the title of this article is misinformation for the following : Social security benefits are disbursed from monthly payroll taxes, and all surpluses are turned into intergovernmental "non-marketable" securities which are backed solely by the "full faith and credit of the U.S. government.

The balance of these special securities are known as the "Social Security Trust Fund", earning a market rate of interest.

This title has been marked as misinformation because the fund currently has a negative balance of almost 3 trillion dollars according to the fund's trustees, but others estimate the negative balance to be over 20 trillion.

Sources :


28 posted on 03/31/2023 9:58:50 AM PDT by SecondAmendment (This just proves my latest theory ... LEFTISTS RUIN EVERYTHING !!!)
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To: jacknhoo
But we’re paying pensions for Ukrainians.

As we shovel 100 billion dollars a year into the maw of the Ukraine Grift Furnace...

29 posted on 03/31/2023 10:00:08 AM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: Red Badger

nope. she deleted that tweet.


30 posted on 03/31/2023 10:03:42 AM PDT by cableguymn
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To: SecondAmendment

You are stuck in the trees and not looking at the forest.

The “trust fund” is a delusion—an accounting farce.

Writing numbers on pieces of paper and declaring them “bonds” is just outright fraud.

There is no market for them.

This is propaganda garbage—there is no “there there”.

It would be like Al Capone handing you a piece of paper saying he owes you x thousand dollars a year in the future.

The paper is worthless unless Al Capone and/or his heirs choose to honor it.

You have zero recourse.

The “trust fund” reminds me of the old Woody Allen movie “Love and Death”.

The Russian farmer picks up a piece of turf and holds it high above his head.

“This is my land” he says.


31 posted on 03/31/2023 10:04:35 AM PDT by cgbg (Claiming that laws and regs that limit “hate speech” stop freedom of speech is “hate speech”.)
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To: tlozo

100 billion here, 100 billion there... soon you are talking about real money.


32 posted on 03/31/2023 10:07:07 AM PDT by DesertRhino (Dogs are called man's best friend. Moslems hate dogs. Add it up..)
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To: tlozo

Also, crash the US system, or touch the retirement of US retirees, and how much support you think there will be here in America for a proxy war using Uke nazis?


33 posted on 03/31/2023 10:08:38 AM PDT by DesertRhino (Dogs are called man's best friend. Moslems hate dogs. Add it up..)
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To: ChicagoConservative27

Damn it, I will be only 93 years old in 2033. I was hoping to collect full SS benefits until age 100.


34 posted on 03/31/2023 10:09:14 AM PDT by entropy12 (Food is most popular anxiety drug, exercise is the least popular.)
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To: ChicagoConservative27

Return funds stolen from Social Security over the years - most recently, the Affordable Care Act. Congress has used it as their piggy-bank and they must stop it.


35 posted on 03/31/2023 10:16:27 AM PDT by elpadre (nd )
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To: Governor Dinwiddie

Can’t do that.


36 posted on 03/31/2023 10:17:43 AM PDT by VTenigma (Conspiracy theory is the new "spoiler alert")
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To: elpadre

You can’t steal money from a fund that never existed in the first place.


37 posted on 03/31/2023 10:18:03 AM PDT by cgbg (Claiming that laws and regs that limit “hate speech” stop freedom of speech is “hate speech”.)
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To: ChicagoConservative27
10 Years of 4 million illegals workin' under the table, not paying in to FICA ?

Yep . . . . THAT'LL do it.

38 posted on 03/31/2023 10:32:45 AM PDT by knarf (I say things that are true . . . I have no proof, but they're true.)
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To: ChicagoConservative27

But Hillary said the trust fund is just fine. So everyone else must be mistaken.


39 posted on 03/31/2023 10:35:13 AM PDT by midwest_hiker
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To: ChicagoConservative27

40 posted on 03/31/2023 10:36:26 AM PDT by dfwgator (Endut! Hoch Hech!)
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